Can I retire at age 62 with 857,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $857,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$70,770$70,140$69,525$68,925$68,338$65,809
2 years$35,035$34,382$33,750$33,137$32,542$30,022
3 years$23,125$22,469$21,838$21,231$20,646$18,215
4 years$17,171$16,517$15,893$15,296$14,725$12,402
5 years$13,599$12,950$12,333$11,749$11,194$8,984
6 years$11,219$10,574$9,967$9,395$8,857$6,762
7 years$9,519$8,880$8,283$7,725$7,203$5,223
8 years$8,245$7,612$7,025$6,480$5,976$4,108
9 years$7,255$6,628$6,050$5,519$5,032$3,275
10 years$6,463$5,842$5,275$4,758$4,288$2,637
11 years$5,816$5,201$4,644$4,141$3,688$2,140
12 years$5,277$4,668$4,121$3,632$3,196$1,748
13 years$4,821$4,218$3,682$3,206$2,787$1,434
14 years$4,430$3,834$3,308$2,846$2,443$1,182
15 years$4,092$3,503$2,987$2,538$2,151$977
16 years$3,797$3,214$2,708$2,273$1,901$809
17 years$3,536$2,960$2,464$2,042$1,686$672
18 years$3,305$2,735$2,250$1,840$1,499$559
19 years$3,098$2,535$2,059$1,663$1,336$466
20 years$2,913$2,355$1,890$1,506$1,193$388
21 years$2,745$2,194$1,738$1,367$1,068$324
22 years$2,592$2,048$1,602$1,243$957$271
23 years$2,453$1,915$1,479$1,132$859$226
24 years$2,326$1,795$1,368$1,032$772$189
25 years$2,209$1,684$1,267$943$695$159
26 years$2,102$1,583$1,175$862$626$133
27 years$2,002$1,490$1,091$789$564$111
28 years$1,910$1,404$1,015$723$509$93
29 years$1,824$1,324$944$663$460$78
30 years$1,744$1,251$879$608$415$65
31 years$1,670$1,182$820$559$376$55
32 years$1,600$1,119$765$514$340$46
33 years$1,535$1,059$714$472$307$39
34 years$1,473$1,004$667$435$278$32
35 years$1,416$952$624$400$252$27
36 years$1,361$904$584$368$228$23
37 years$1,310$858$546$339$207$19
38 years$1,261$816$512$313$188$16
39 years$1,215$776$479$288$170$13
40 years$1,172$738$449$266$154$11
41 years$1,130$703$421$245$140$9
42 years$1,091$669$395$227$127$8
43 years$1,054$638$371$209$115$7
44 years$1,018$608$348$193$105$6
45 years$984$580$327$178$95$5
46 years$952$553$307$165$86$4
47 years$921$528$288$152$78$3
48 years$892$504$271$141$71$3
49 years$864$481$255$130$65$2
50 years$837$459$239$120$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $857,000, adding $2,519 every year, while hoping to spend $43,876 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 58/35/7 Blend
61$857,000$857,000$857,000$857,000
62$947,012$901,591$888,308$1,000,372
63$996,924$899,086$871,382$1,034,005
64$1,050,456$894,987$852,419$1,065,460
65$1,107,931$889,170$831,304$1,098,652
66$1,169,704$881,503$807,917$1,133,751
67$1,236,165$871,847$782,133$1,170,946
68$1,307,739$860,053$753,820$1,210,446
69$1,384,897$845,964$722,841$1,252,483
70$1,468,153$829,414$689,053$1,297,316
71$1,558,075$810,225$652,307$1,345,230
72$1,655,284$788,211$612,444$1,396,544
73$1,760,464$763,175$569,302$1,451,611
74$1,874,367$734,906$522,710$1,510,822
75$1,997,820$703,184$472,489$1,574,611
76$2,131,732$667,775$418,451$1,643,459
77$2,277,102$628,429$360,402$1,717,902
78$2,435,030$584,885$298,139$1,798,530
79$2,606,724$536,866$231,448$1,885,999
80$2,793,516$484,079$160,108$1,981,037
81$2,996,870$426,213$83,886$2,084,449
82$3,218,395$362,942$2,541$2,197,127
83$3,459,866$293,920$0$2,320,058
84$3,723,231$218,782$0$2,460,631
85$4,010,640$137,141$0$2,614,375
86$4,324,455$48,591$0$2,782,460
87$4,667,278$0$0$2,966,391
88$5,041,973$0$0$3,186,050
89$5,451,695$0$0$3,446,776
90$5,899,914$0$0$3,732,071
91$6,390,454$0$0$4,044,379
92$6,927,525$0$0$4,386,388
93$7,515,762$0$0$4,761,062
94$8,160,271$0$0$5,171,661
95$8,866,674$0$0$5,621,777
96$9,641,162$0$0$6,115,368
97$10,490,556$0$0$6,656,790
98$11,422,367$0$0$7,250,843
99$12,444,869$0$0$7,902,814
100$13,567,175$0$0$8,618,526